Business
Compulsory Acquisition of Footasylum Shares
Compulsory Acquisition of Footasylum Shares.
About this update from Jd Sports Fashion Plc
[{"type":"text","content":"\n \nRNS Number : 8636W JD Sports Fashion Plc 23 April 2019 \n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN OR INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION\nFOR IMMEDIATE RELEASE\n23 April 2019\n \nRecommended Cash Offer For Footasylum plc by JD Sports Fashion plc\nCompulsory Acquisition of Footasylum Shares\nIntroduction\nOn 12 April 2019, JD Sports Fashion plc (JD) announced that its offer for the whole of the issued and to be issued ordinary share capital of Footasylum (other than the Footasylum Shares which JD already owns) (Offer) was wholly unconditional.\nCompulsory acquisition\nFurther to its announcement on 12 April 2019 regarding its intention to implement the compulsory acquisition procedure under Chapter 3 of Part 28 of the Companies Act 2006 (the Act), JD announces the despatch today of formal compulsory acquisition notices under Section 979 of the Act (the Compulsory Acquisition Notices) to Footasylum Shareholders who have not yet accepted the Offer. These notices set out JD's intention to apply the provisions of Section 979 of the Act to acquire compulsorily any remaining Footasylum Shares in respect of which the Offer has not been accepted on the same terms as the Offer. The transfer of Footasylum Shares in accordance with the Compulsory Acquisition Notices will take place on 5 June 2019, being the day after the date which is six weeks from the date of the Compulsory Acquisition Notices.\nUnless any of the Footasylum Shareholders who have not accepted the Offer apply to the court and the court orders otherwise, on the expiry of six weeks from the date of the Compulsory Acquisition Notices, the Footasylum Shares held by those Footasylum Shareholders who have not accepted the Offer will be acquired compulsorily by JD on 5 June 2019 on the same terms as the Offer. The consideration to which those Footasylum Shareholders will be entitled will be held by Footasylum as trustee on behalf of those Footasylum Shareholders and they will be requested to claim their consideration by writing to Footasylum at the end of the six-week period.\nProcedure for acceptance of the Offer\nFootasylum Shareholders who have not accepted the Offer are urged to do so as soon as possible. \nTo accept the Offer in respect...